Building a unit-by-unit price grid for a development: the method

A unit-by-unit price grid is built by starting from a reference price per square metre, then adjusting it unit by unit according to objective criteria: floor, orientation, floor area, outdoor space, view and nuisances. The point is not to set an average price, but to translate the real differences between two apartments in the same development into value.

Set the reference price before adjusting

Before discussing each unit, the whole programme needs a common anchor point. This reference price serves as the base, and each apartment then moves up or down from it.

The reference price is based on comparable transactions in the area, the quality of construction and the positioning of the programme. Once this base has been agreed with the developer, it is not renegotiated for each unit: it is varied in a readable way. That readability is what then makes it possible to defend each price to a buyer, because the logic is simple to explain.

A word on floor area. For the same quality, the price per square metre of a small home is higher than that of a large one, because demand for small units remains strong and the absolute total price stays affordable. The grid therefore builds in a gentle reduction of the price per square metre as floor area increases. This setting prevents a large apartment from looking overpriced next to a studio.

Adjust for floor and orientation

The floor is the first adjustment criterion in an apartment building. A penthouse is valued above the intermediate levels, thanks to the openness, the light and the absence of overlooking at roof level. Conversely, a ground floor or first floor on the street side is adjusted downwards. The progression between levels is not linear: it steepens towards the top of the building, where scarcity comes into play.

Orientation comes next. A living room facing south or west, catching the afternoon light, is positioned above a north-facing dual-aspect home. A single-aspect north-facing apartment is adjusted downwards, unless the view makes up for it. The quiet of a courtyard-facing orientation can also count, depending on the neighbourhood.

These two criteria combine. A well-oriented penthouse adds up both effects, while a low, north-facing level adds them up in the opposite direction. The grid must make this combination visible, otherwise two very different units would end up at the same price.

Value outdoor space and the view, weigh up nuisances

Outdoor areas are counted separately. A terrace, a balcony, a loggia or a private garden add value, but not at the same price per square metre as the indoor living area. Outdoor space is valued at a fraction of the indoor price, and that fraction varies with its actual use: a usable garden does not weigh the same as a narrow balcony. A south-facing penthouse terrace is one of the items that most widens the gap between two units.

The view is a fine-tuning criterion. An open view of the lake, the Salève or a park adds clear value, while a view of a blank wall is neutralised. The view can only be assessed at unit level, never for the whole programme, because it can change from one floor to the next within the same column.

Nuisances work the other way. Exposure to a busy road, proximity to a tram line, an adjoining technical room or close overlooking justify a downward adjustment. These are not defects to be hidden: they are built into the grid, which makes the price consistent and defensible. A less well-placed unit that is correctly priced sells, while an overpriced unit stalls and weighs on the pace of sales.

Check overall consistency

Once each unit has been adjusted, the grid is reviewed as a whole. Two comparable apartments must show a difference that can be explained in one sentence. If a difference cannot be explained, a criterion has been misweighted, and it needs revisiting.

This overall review also serves the sales strategy. It identifies the lead units, those that will go quickly and create momentum, and the trickier units that will need more support. The grid then becomes a tool for steering the programme, not just a price table. This approach is part of our method for marketing developments in Geneva, where the grid is worked out ahead of the launch.

One last point to watch. The grid is not set in stone. As marketing progresses, the pace of sales shows whether certain units are over- or undervalued, and a measured adjustment remains possible without breaking the overall consistency.

A programme in Geneva? Book a call with Stéphane Blatti